According to a
new AARP survey of adults 18 and older, about two in
three (66%) Connecticut consumers rely on peer-to-peer (P2P) payment platforms
to send money to someone else’s account – a relatively quick and easy way to
transfer money. Nationally, seven in ten (71%) of survey respondents rely on
P2P payment methods.

The poll also
found that more than half of those surveyed in Connecticut (55%) and the U.S.
(52%) believe they are able to reclaim money sent in error. While the platforms
are convenient, the difficulty of recovering funds sent through them makes the
technology, and those who use it, uniquely vulnerable to scammers. This may
especially be the case as more people use delivery services for groceries and
other necessities during the coronavirus pandemic.

“Scammers
are following their playbook – using current events to find ways of stealing
money or sensitive personal information,” said Erica Michalowski,
AARP Connecticut community outreach director. “A growing number of consumers are turning to
peer-to-peer payment platforms during the coronavirus pandemic, and while these
methods are quick and easy, the survey shows a need for more education about
the risks and how these platforms operate.”

A heightened
fear and anxiety caused by the coronavirus is creating opportunities for
criminals to exploit people, and AARP’s survey shows that many consumers may be
at risk:

· Nearly seven in ten Connecticut adults
(67%), and 71% of the respondents in the U.S., report using P2P payment
platforms.

· More than half of those surveyed in
Connecticut (55%) and the U.S. (52%) incorrectly answered a quiz question about
being able to reclaim their money if they made an error while sending through a
P2P payment platform.

· Many consumers are using P2P payment
platforms to send money to people they don’t know. When making a purchase
through an online bidding site, 42% of survey respondents in Connecticut and
53% across the U.S. send the money to a seller with whom they have previously
never done business. In addition, 50% of Connecticut and 61% of U.S. adults
send the money to a seller rated highly for fulfilment and delivery.

According to
the Federal Trade Commission, there were over 14,000 reports of scams and fraud
in Connecticut and nearly $14 million lost to fraud last year.

The survey
was conducted by NORC, on behalf of AARP, from November 4-8, 2019. This report
reflects results from a larger survey among 801 Connecticut adults ages 18 and
older which highlights people’s experiences with peer-to-peer payment
platforms. The survey has a sampling margin of error of ±4.6 percent. This
survey was also conducted nationally and in three other states: Pennsylvania,
Vermont, and Washington. To view the national and state reports and/or the full
study methodology for these studies, please go to www.aarp.org/p2prisks.

The AARP Fraud Watch Network launched in 2013 as a free resource for
people of all ages. Consumers may sign up for “Watchdog Alert” emails that
deliver information about scams, or call a free helpline at 877-908-3360 to
report scams or get help from trained volunteers in the event someone falls
victim to scammers’ tactics. The Fraud Watch Network website provides
information about fraud and scams, prevention tips from experts, an interactive
scam-tracking map and access to AARP’s hit podcast
series, The Perfect Scam.

ARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation’s largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit http://www.aarp.org or follow @AARP and @AARPadvocates on social media.